Recap calculates your asset balances from the transactions in the account and compares these to the balances reported by the exchange. If the balances do not match, this indicates that there are missing transactions or inaccurate data which may affect your capital gains/losses.
Here's a summary of the most common reasons for your balance to be incorrect and how to solve this...
Exchanges Can Return Incomplete Data
Recap integrates directly with your exchange via a read-only API. Unfortunately, some exchanges do not make all of your data available via their API or return incomplete data. This can result in missing transactions or an incomplete transaction, for example, with missing fees.
For some exchanges e.g. Binance, you can fill the gaps by also importing exported CSV data from the exchange. If the exchange doesn't support this functionality, you can fill in the gaps by adding manual transactions.
When your data is imported into Recap we automatically identify the assets involved in a transaction by using the currency codes in the transaction data. At Recap, we have curated our own reference data with comprehensive mappings for supported exchanges and pricing providers. This ensures assets can be correctly identified and matched to accurate pricing.
Sometimes we are unable to automatically identify an asset and this can cause your balances to be different. You can learn more about unidentified assets and how to fix this problem here.
Minor Balance Differences
Your balances may only have very small differences e.g. the difference of a penny in actual value. When this is the case, you can simply ignore the balance difference errors.
You can update your account settings to remove the balance difference errors that appear on your account card and the warning triangles that appear on your issues tab.
Need more support?
If you're still seeing large differences in your balances after following the advice above, please contact us via support to chat directly with a member of the team.